Starting Out in Commercial Real Estate
For those who have some experience in real estate and are looking for a career change, commercial real estate can be a very rewarding switch. If you are looking to make a change in your career, here are a few steps that would be helpful for you to take in preparing for this adjustment:
Firstly, you will want to gather information from those with experience on the commercial side of real estate. Do you have family or friends that work in the field? Call them first and ask for a window of their time. Take solid notes on what they have to say and ask them to give you advice on any resources they found helpful as they were getting started. Your personal connections in this field may also be willing to get you contact information to reach out to some other individuals who may be able to offer helpful tips along the way; these contacts may even turn into potential employers.
Then, conduct your own research into commercial real estate. Look up the recommended resources and narrow your search down to the fields you think you may be interested in. Take classes and familiarize yourself with the options you have while you’re making valuable future connections. Among potential career paths you could take, some options within this kind of real estate are in developing properties, managing properties, or acting as a general broker for these kinds of properties – taking the position of representative between the seller and the client.
If you already know what you want to do, focus your research in that field and decide what kind of working environment you would want in order to thrive. Are you okay with working off commission? Would you prefer to ultimately work for yourself or in a company? Know your limits, your ideal situation and the details of the kind of employment you want. Working these kinds of questions out ahead of time will give you an advantage when it comes to job hunting.
At this point, you will want to begin interviewing for serious positions. You know what you want, and you’re equipped with the knowledge to do the job well. Remember what you’ve learned and make it work to your advantage. A factual, confident potential employee will impress those hiring, and the knowledge you have gained up to this point along with your determination to learn may help you successfully secure your first job in commercial real estate.